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Strix Group – trading update argues “strong” cash generation, but how strong really?…

By Steve Moore | Thursday 25 January 2024

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.

Kettle safety controls and other water temperature management components group, Strix (KETL) has issued a “Pre-Close Trading Update and CFO Appointment” announcement including noting 2023 “adjusted profit after tax for the full year of £20.6m on a constant currency and £20.1m on a reported basis… Cash generation for the group during the second half of the year was strong and year-end net debt will be c.£83.7m… a clear plan to get net debt/EBITDA to below 1.5x before the end of 2025”. What of a current approaching 5% lower share price towards 70p in response?
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